Egypt’s Pharos Research sets FV of 10 EGX-listed banks

Egypt’s Pharos Research has set the fair value (FV) of ten banks listed in the Egyptian Exchange (EGX), according to Mubasher.

The FV of the country’s Commercial International Bank (CIB) was set at 90 pounds per share, with equal weight recommendation, according to Pharos’ research note.

Pharos Research maintained the FV of Qatar National Bank Al Ahli (QNBA), Credit Agricole- Egypt, and Abu Dhabi Islamic Bank- Egypt at 50.4 pounds, 55 pounds, and 15.1 pounds, respectively, recommending the increasing of their weight.

Meanwhile, the weight of Suez Canal Bank (SCB) was reduced, with 7 pounds FV, Pharos added.